MongoDB, Inc. (NASDAQ:MDB) Receives $312.84 Consensus Target Price from Brokerages

Shares of MongoDB, Inc. (NASDAQ:MDB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the thirty-two research firms that are currently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $312.84.

A number of equities research analysts have recently weighed in on MDB shares. Guggenheim raised shares of MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 target price on the stock in a research note on Monday, January 6th. Stifel Nicolaus cut their price objective on MongoDB from $425.00 to $340.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Barclays decreased their target price on MongoDB from $330.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. China Renaissance began coverage on shares of MongoDB in a report on Tuesday, January 21st. They set a "buy" rating and a $351.00 target price on the stock. Finally, Canaccord Genuity Group decreased their price target on shares of MongoDB from $385.00 to $320.00 and set a "buy" rating for the company in a research note on Thursday, March 6th.

MongoDB Stock Performance

Shares of NASDAQ MDB traded up $25.49 during trading hours on Friday, hitting $171.34. The company's stock had a trading volume of 3,611,865 shares, compared to its average volume of 1,790,746. MongoDB has a 12 month low of $140.78 and a 12 month high of $387.19. The stock has a market cap of $13.91 billion, a price-to-earnings ratio of -62.53 and a beta of 1.49. The business has a 50-day simple moving average of $224.89 and a 200-day simple moving average of $257.73.

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MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter in the prior year, the business posted $0.86 earnings per share. On average, equities research analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In other news, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares in the company, valued at $2,529,103.50. This trade represents a 2.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 1,045 shares of the firm's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $242.67, for a total value of $253,590.15. Following the completion of the transaction, the director now directly owns 85,652 shares in the company, valued at approximately $20,785,170.84. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,060 shares of company stock valued at $13,461,875 over the last 90 days. Company insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On MongoDB

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of MongoDB by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company's stock valued at $1,706,205,000 after buying an additional 23,942 shares in the last quarter. Franklin Resources Inc. raised its stake in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock valued at $478,398,000 after purchasing an additional 181,962 shares during the period. Geode Capital Management LLC boosted its stake in MongoDB by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock worth $290,987,000 after purchasing an additional 22,106 shares during the period. First Trust Advisors LP raised its position in shares of MongoDB by 12.6% during the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company's stock valued at $199,031,000 after buying an additional 95,893 shares during the last quarter. Finally, Norges Bank bought a new position in shares of MongoDB during the fourth quarter worth $189,584,000. Institutional investors own 89.29% of the company's stock.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.